Alltel Announces Earnings
By: Import User
Updated: January 7, 2009
Little Rock-based Alltel Corporation
announced lower first-quarter earnings today but expanded its
customer base.
Unadjusted for one-time charges, first-quarter earnings were 61
cents per share, down from 90 cents per share in the same quarter a
year ago.
In the period, the company added a net of 158,000
customers. Alltel president and chief executive Scott Ford said the
investment by the company in signing up the new customers will pay
off in the quarters ahead.
Alltel also saw earnings affected by the cost of eliminating
almost 700 positions and for a building it will no longer need as a
consequence.
The company earned $189 million for the period ending
March 31st, compared to $280 million a year before.
Adjusted for restructuring charges, discontinued operations and
other one-time items, Alltel earned 71 cents per share, compared to
73 cents per share a year before.
